Norcros plc Reports Strong First‑Half Performance in UK & Ireland UK/Ireland: Norcros plc, the leading branded bathroom products business in the UK and Ireland, reported a 1.3% increase in revenue to £184.3 m (USD 240.7 million) and a 7.4% rise in underlying operating profit to £21.9 m (USD 28.6 million) for the first half of 2025. Strategic initiatives including the acquisition of Fibo Holding AS in Norway and the closure of Johnson Tiles SA have positioned the company for f

Reece Reports 18% Decline in Quarterly EBIT Amid Housing Market Pressures Australia: Plumbing and bathroom products supplier Reece has reported an 18% decline in earnings before interest and tax to USD 129 million for the September quarter, with EBITDA down 8% to USD 222 million compared to the same period last year. The Australian company, which distributes through its branch network and online and has a significant US presence, cited persistent cost pressures and escalating

Nordic Climate Group Expands into United Kingdom and Ireland Through Strategic Acquisitions UK/Ireland: Nordic Climate Group is expanding into the United Kingdom and Ireland via three strategic acquisitions with combined revenue exceeding EUR 50 million, establishing itself as the market leader in Ireland and securing a starting position in the UK. This expansion builds on the Group’s growth in the Nordics and the Netherlands and strengthens its presence in key sectors includ

AC Makers Brace for Q4 Demand Recovery in India Following Monsoon and GST Slowdown India: Room air-conditioner sales were impacted by a prolonged monsoon and muted retail demand, offsetting the GST reduction from 28% to 18%, with companies now targeting a recovery in the Q4 of FY26. Blue Star reported strong sales earlier in the season, but demand later slowed, leaving inventory at around 65 days of sales versus the ideal 45 days. Voltas noted subdued retail offtake due to th

Stiebel Eltron Targets 15% Growth in 2025 for Water Heater Sales in Thailand THAILAND: Stiebel Eltron expects its water heater business to post solid growth this year, in line with broader market trends driven by urbanisation and rising demand for energy-efficient appliances. The company forecasts a 15% growth in water heater sales, with the Thai water heater market valued at around US$96.4 million (approx. 3 billion baht) and continuing to expand steadily. To capitalise on y

Mac Al Gurg Forms Partnership to Distribute Hansgrohe Sanitaryware in the UAE UAE: Mac Al Gurg has entered into a strategic partnership with Hansgrohe to expand the availability of the brand’s sanitaryware products in the UAE. Under the agreement, Mac Al Gurg will distribute Hansgrohe sanitary ceramics across the country, while also handling the distribution of Hansgrohe and AXOR faucets and showers in Abu Dhabi. The collaboration includes plans for a dedicated showroom in Ab

UK Government Seeks Views on Alternative Low-Carbon Heating Technologies UK: The UK government has opened a consultation to gather evidence on alternative low-carbon heating technologies beyond heat pumps and heat networks. While heat pumps and heat networks remain central to the UK’s decarbonisation strategy, the government aims to identify additional solutions suitable for different types of buildings to ensure consumer choice. The consultation forms part of wider efforts t

Johnson Controls-Hitachi Reports Wider Quarterly Loss Amid Seasonal Weakness India: Johnson Controls-Hitachi Air Conditioning India Ltd. reported a larger loss in the second quarter of FY26, with its net result declining to INR 399.6 million (USD 4.79 million / EUR 4.54 million) compared with a loss of INR 300.5 million (USD 3.38 million/ EUR 2.95 million) in the same period last year. The company recorded modest growth in quarterly revenue, but demand softened sharply durin

Swegon Group Appoints Interim CEO Following Leadership Transition Sweden: Swegon Group has announced that its current Chief Executive Officer (CEO), Andreas Örje Wellstam, will move to the role of Chief Investment Officer at Investment AB Latour, the company’s owner. In response, the Board of Directors has appointed Eva Karlsson as interim CEO, effective 1 February 2026. Karlsson currently serves as Vice President of the Business Area Air Handling, Cooling & Heating and previ

Scottish Government Withdraws Green Heating Legislation Again Scotland: The Scottish government has withdrawn its proposed legislation on low-carbon heating systems for a second time this year. The heat in buildings bill, initially developed by former green minister Patrick Harvie, aimed to support the transition from gas boilers to alternatives such as electric heat pumps. The original proposal was abandoned earlier in the year due to concerns that it could increase fuel pov

Beijer Ref Acquires Two HVAC/R Distributors in the United States USA: Beijer Ref has acquired Key Refrigeration Supply and Dennis Supply Company, two HVAC/R wholesale distributors based in the United States with a combined annual turnover of approximately SEK 800 million (about USD 74 million). Key Refrigeration Supply, founded in 1999 and headquartered in North Kansas City, Missouri, operates six branches across Kansas and Missouri, supporting the company’s presence in exist

Home Depot Reports Higher Third-Quarter Sales for Fiscal 2025 USA: Home Depot reported sales of USD 41.4 billion for the third quarter of fiscal 2025, an increase of USD 1.1 billion compared with the same period of fiscal 2024. The results include approximately USD 900 million in sales from the recently acquired GMS Inc., reflecting around eight weeks of activity during the quarter. Comparable sales increased by 0.2 per cent overall and by 0.1 per cent in the United States. T